Money never disappears-it just finds new opportunities
With ongoing trade conflicts and political tension among different countries and blocs, the pandemic has only worsened things. Various stakeholders from the textile industry discuss how the industry can survive the onslaught of the pandemic and the situations arising from the same.
Political tensions that may impact India have taken a new level this year; whereas the country may have hoped that anti-Chinese sentiments benefit the country in the short term, China has shown an impressive recovery ability which will still attract buyers as business partners are looking for stability and security. However, India has the ability to step up, modernise its industry, invest in technology, build its autonomy in terms of trims and accessories, and capitalise on its reputation of sustainable sourcing to strengthen its attractivity. We have seen recent investments in virtual shows and suppliers' willingness to adapt their marketing to the new normal are very encouraging. There is so much to do when the industry is coming together.
Published on: 18/08/2020
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.